Does anyone have any update? I haven't received any message so far. Finger crossed.
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My whole team got it and were told we are too expensive NY and London were spared.
Isn't there minimum of 3 months' severance for VP and above? This was the case before unless policy changed! Anyway, good luck.
@100 the severance is only 2 weeks for every 12 FULL months of employment. So let's say you are laid off 1 day shy of completing your second year, your severance will only be for 2 weeks (your regular bi-weekly paycheck). If you're "lucky enough" to make it past the 24 months of employment when you're laid off, your severance will be 4 weeks worth of pay (2 bi-weekly paychecks).
As a C13 in Citi risk department, I have been paid for nothing I did to this firm for the last 2 years. Now I hope I can get laid off for a severance package. In the past two years, I did everything but work for risk department, travelling around the world, working from home so I can visit my friends and families across the country, looking after my babies. Thank you, Citi, for paying me salaries for my travel. If I can get a final severance package, that would be a perfect ending of my Citi career.
@vz don't be nervous, just be prepared and move accordingly and in the best interest of you. Please pay attention to leadership changes (laid off or voluntary departure) and organizational realignment of teams, but understand no team or management layer is "safe".
As a Citi alum, I know the firm is notorious for layoffs every 18-24 months, but what's taking place is measured, calculated, and on a much grander scale than the usual. Due to the mismanagement, things are only going to get worse for people who remain.
Anyone who don't see what's coming down the line is not seeing the big picture. $hity Will continue to lay off more people. They are not growing like other big banks. They don't have solid growth strategy, and they don't have right management team. They just focus on short term profit and don't invest towards growth. They have been selling businesses for many years and will continue to do so. So, you figure.
@tq You are making me nervous
@tq *not the end
I worked within tech risk based in Irving, and was unexpectedly laid off on 9/24. It was effective immediately and system access was cut within the hr. I'm not sure who all from my former team was impacted, but I believe salary played a MAJOR role (I was a C14). This is my the end of the cuts across the board, not just in specific areas.
The more AI and automation is integrated into systems and processes, the more people will be cut.